Mentioned:
Swarmer is taking an ownership stake in a newly formed private company. And Erik Prince is behind it.
What’s happening:
- Swarmer (NASDAQ: SWMR) has taken a 20% equity stake in Vectus Air Defense Systems
Why it matters:
- Vectus Air Defense Systems is a newly formed private company focused on providing aerial defense for sovereign governments and critical infrastructure operators founded by Erik Prince
Going deeper:
- Swarmer has publicly stated that they will collaborate closely with Vectus Air Defense Systems to develop advanced counter-drone capabilities, including drone interceptor swarming technology
- Swarmer has been winning multiple new contracts for their drone swarming software lately, including previously striking a deal with Ukrainian company Meta Bureau that could potentially be worth up to $13.2M USD
The fine print:
- Erik Prince is currently the non-executive chairman of Swarmer and the specific financial terms of Swarmer’s investment into Vectus Air Defense Systems have not yet been publicly disclosed
